Author: Richard Henderson, Georgina McKay, Bloomberg; Translated by: Deng Tong, Golden Finance
DigitalX Ltd. will launch a bitcoin exchange-traded fund on Australia’s main stock market after becoming the second asset manager to receive approval from the bourse operated by the Australian Securities Exchange Ltd. (ASX Ltd.).
The DigitalX Bitcoin ETF will be listed on July 12 under the ticker BTXX, according to a statement from the company on Tuesday. DigitalX said the fund was established in partnership with K2 Asset Management and 3iQ.
DigitalX’s listing comes just weeks after the Australian Securities Exchange approved VanEck’s bitcoin ETF last month. Sydney-based fund manager BetaShares Holdings Pty has also applied to launch bitcoin and ethereum ETFs on the Australian Securities Exchange.
“I believe this will attract new entrants into the market and ultimately allow institutions to incorporate Bitcoin and digital assets into their strategic asset allocation,” said Lisa Wade, CEO of DigitalX. “That’s really why we’re doing this, but it’s a long game.”